Bunge North America and Biodiesel Investment Group to build Illinois’ largest biodiesel plant in Danville
September 21, 2006 - Memphis, Tennessee and St. Louis, Missouri - A Memphis-based investment group and a leading agribusiness firm are teaming up to build Illinois’ largest biodiesel plant in Danville.
Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG) and Biodiesel Investment Group, LLC, announced the creation of Biofuels Company of America, LLC (BCA), a joint venture that will build the 45-million gallon per year biodiesel plant adjacent to Bunge’s soybean processing facility in Danville, Ill. Work on the site is already under way with plans for the plant to be operational in the first quarter of 2008.
“Bunge already has a strong presence in Danville and we look forward to solidifying a long-term local market for soybean producers in the region with the construction of this plant,” said Larry Clarke, senior vice president and general manager, Bunge Oilseed Processing. “Bunge will be able to provide 100% of the feedstock for the new plant as well provide risk management and other services to the new facility.”
Producing 45-million gallons of biodiesel will use the equivalent of 30 million bushels of soybeans. When complete, the plant will employ up to 15 full time employees.
“The availability of feedstock, the access to transportation and the State of Illinois’ commitment to alternative fuels through the Renewable Fuels Grant program, all made the Danville site attractive to us,” said Mark Burke, president, Biodiesel Investment Group. “We are also very pleased with the support we received from the Illinois Department of Commerce & Economic Opportunity, the Illinois Finance Authority, the Illinois Department of Transportation, the City of Danville and Vermilion Advantage, the local county economic development group.”
About Biodiesel Investment Group
The Biodiesel Investment Group, LLC is headquartered in Memphis, Tenn. The group, which is committed to producing alternative fuel sources, includes individual investors as well as Earth Biofuels, Inc. (OTCBB: EBOF) of Dallas, Texas.
About Bunge North America
Bunge North America (www.bungenorthamerica.com), the North American operating arm of Bunge Limited (NYSE: BG), is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the livestock, poultry, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, oilseed processing plants, edible oil refineries and packaging facilities, and corn dry mills in the U.S., Canada and Mexico.
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